Bank of England AUD TWI is looking toppy – would allow for slide back to the 2 year support line at 104.00. From current levels of 107.40 this would imply a 3% correction lower.
US dollar Index is probing its near term resistance line.
We have also issued a new trade recommendation and wish to buy the US dollar Index on this dip lower.
Commerzbank Corporates & Markets
Technical Research